Stock market today: 37 stocks hit 52-week lows, 127 stocks at 52-week high as Nifty 50, Sensex end over 1% higher

Markets Surge Amid Positive Global Cues; 127 Stocks at 52-Week Highs

Indian equity markets witnessed a broad-based rally on Thursday, with the benchmark indices — the Nifty 50 and Sensex — jumping more than 1% each. Riding on global optimism and improved risk appetite, the rally was marked by robust participation across sectors. Interestingly, even as 127 stocks hit their 52-week highs, 37 stocks slipped to their 52-week lows, reflecting a market-wide churn and a sector-specific divergence.

Closing Bell: Sensex, Nifty End Strong

The BSE Sensex surged 841.36 points or 1.12% to settle at 75,891.23, while the NSE Nifty 50 climbed 241.10 points or 1.06% to close at 23,113.65. The broader markets also reflected the upbeat sentiment, with the Nifty Midcap 100 and Nifty Smallcap 100 gaining over 0.9% each.

Key Gainers and Sectoral Moves

Among the top contributors to the rally were heavyweights like Reliance Industries, HDFC Bank, Infosys, and ICICI Bank. The Nifty IT index rose over 1.8%, driven by easing U.S. recession fears and positive global tech earnings.

The Nifty Bank index also saw strong gains, jumping nearly 1.5%, supported by PSU banks and large private lenders. Sectors such as FMCG, Auto, and Pharma joined the rally, while Metal and Realty indices showed marginal underperformance.

127 Stocks at 52-Week Highs: Bullish Breakouts Continue

A total of 127 stocks on the NSE touched their 52-week highs, including blue-chips and midcaps such as:

• Larsen & Toubro (L&T)

• Sun Pharma

• Bosch Ltd

• Tata Elxsi

• IRFC

• Mazagon Dock

• Coforge

These stocks have benefited from strong earnings, government infra push, and increasing investor interest in defense, manufacturing, and automation-related themes.

37 Stocks at 52-Week Lows: Contrasting Trends

Despite the index rally, 37 stocks hit their 52-week lows, pointing to pressure in specific sectors or company-specific headwinds. Notable names include:

• Zee Entertainment – facing continued regulatory and merger challenges

• Vodafone Idea – concerns around debt and fundraising

• Future Enterprises – ongoing insolvency-related issues

• MTNL – persistent operational stress

This underscores the importance of selective investing even in a broadly bullish environment.

Analyst Take: What’s Fueling the Rally?

According to Vinod Nair, Head of Research at Geojit Financial Services:

“The rally is largely driven by global risk-on sentiment and hopes that central banks, especially the U.S. Fed, are nearing the end of their rate hike cycle. Domestically, India’s macro indicators remain stable, with encouraging GST collections and declining inflation supporting equities.”

Mehta Equities' research note added:

“Nifty’s breakout above 23,000 signals continued strength in momentum. However, the divergence in 52-week highs and lows suggests profit-booking in pockets and a shift in capital towards defensives and quality names.”

Global Markets Supportive

Global equity markets provided a supportive backdrop. The Dow Jones Futures were trading over 200 points higher ahead of key inflation data, while Asian markets like Nikkei and Hang Seng also ended in the green. A fall in crude oil prices and stable U.S. bond yields improved risk appetite.

Technical View: Nifty Eyes 23,200 Next

Market experts believe the Nifty 50 now has immediate resistance near 23,200–23,250, while support is pegged around 22,900.

Ruchit Jain, Lead Research Analyst at 5paisa.com, stated:

“The Nifty sustaining above 23,000 with broader market participation is a healthy sign. Momentum indicators suggest further upside is possible, but traders should watch out for overbought levels.”

Investor Outlook: Stock Selection Key Amid Valuations

While the index levels continue to march upwards, investors are advised to remain cautious and focus on fundamentals.

Anand Rathi Wealth recommends:

“Use this rally to rebalance your portfolio. Avoid momentum chasing in overheated midcaps. Stick to sectors with earnings visibility — especially capital goods, banking, and pharma.”

Additionally, the divergence in 52-week highs and lows signals a stock-specific approach may yield better results than blanket investing strategies.

Thursday’s sharp rally reinforced the ongoing bullish sentiment in Indian equities, powered by global cues and strong domestic fundamentals. The high number of 52-week highs reflects growing investor optimism, even as select underperformers hit new lows. As markets enter the final trading days of the month, all eyes will be on global macro data and FII flows to gauge the sustainability of this momentum.